UK-based energy consultancy Xodus has been awarded a contract to provide technical and project support services for the decommissioning of the Northern Endeavour FPSO in the Timor Sea. The contract relates to Phase 1 of decommissioning. It will cover the disconnection and removal of the FPSO,...
The 93 passengers and 36 crew on an internal Philippines passenger/ro-ro were rescued safely after it ran aground about 100 metres from shore at Barangay Nasunugan in Banton, the Philippines, at midnight local time on July 16th. Montenegro Shipping’s Maria Helena (IMO 7535274) was sailing from...
London market Insurers were currently reviewing whether they would freeze cover for any ships intending to sail to and from Ukraine from Istanbul after the Black Sea Corridor agreement came to an end. Russia on Monday July 17th said that the agreement had been “suspended” as a result of the West...
The bridge across the Kerch Strait was hit twice early in the morning of July 17th. One span of the car bridge collapsed, with one pillar also reported as collapsed. However the rail bridge was claimed to be intact. Later in the day one lane of road traffic was reinstated, according to Russian...
https://insurancemarinenews.com/insurance-marine-news/marine-accident-round-up-19th-july-2023/
The salvage of domestic feeder container ship Pangaon Express (IMO 8662309) started in the Bay of Bengal on July 16th, 10 days after it capsized near Bhasan Char, Noakhali (IMN July 10th). Sea Glory Shipping Agencies had chartered the vessel. It has recruited locally based PS Salvage to handle the...
UK-based marine insurer and Group Club NorthStandard reports that it has continuedto see a rise in the number of investigations and severity of fines connected with smuggling and breach of customs regulations. It said that, given the rising number of drug trafficking cases and the increasing...
Vessels should not anchor outside designated anchorage areas in regions where coral reefs are known to exist to avoid damaging them and being exposed to fines by authorities, said Norway-based marine insurer Gard in a recent publication. In a case study it noted that a vessel arriving at Port...
Water levels on the Mississippi and Ohio rivers have been falling for the second year in succession, raising the prospect of shipping problems along major US freight routes. In Cairo, Illinois, where the Ohio joins the Mississippi, water levels had dropped more than 6ft over the previous seven days...
Owen Fry has written for Steamship Mutual on the effect of hedging on damages. Traders who buy and sell goods with volatile prices are likely to be exposed to price movements during the course of the transaction, and that risk is often managed by hedging. As well as minimizing losses from...
Seven members of Ardonagh Specialty’s marine team, who were revealed late last week to have resigned, will be joining Amwins Global Risks, reports The Insurer . Ardonagh Specialty operates under the brand names of Bishopsgate and Price Forbes. Tokio Marine HCC’s head of marine and energy liability...
https://insurancemarinenews.com/insurance-marine-news/marine-round-up-18th-july-2023/